American Apparel reports flat second-quarter sales
American Apparel Inc. reported a bit of good news Thursday: After several quarters of declines, the Los Angeles clothing maker and retailer said sales were flat in its second quarter compared with the same period a year earlier.
The company also said online sales rose 19% and wholesale sales declined 4%. Total sales were $132 million.
Chief Executive Dov Charney said he was pleased with the company's recent sales momentum. For the month of June, he said, the company saw a 3% increase in sales at stores open at least a year.
"With a continued emphasis on improving manufacturing efficiency, and despite the effect of cotton price increases, we believe ours will be a story of improving sales," he said in a statement. "Our focus will be to optimize product mix in stores, the in-store customer experience and the overall profitability of our store base."
The news helped pushed American Apparel's stock up 12 cents, or 12.9%, to $1.05.
Separately, major chain stores reported a 6.5% year-over-year increase in June sales on Thursday, beating expectations.
-- Andrea Chang
Photo: An American Apparel store in Los Angeles. Credit: Lawrence K. Ho / Los Angeles Times